Solana Predicted to Climb the Market Cap Ladder Signifciantly and Outshine USDT
The investment powerhouse VanEck's crypto analysts have set their sights on Solana (SOL), envisioning a groundbreaking trajectory for this Ethereum (ETH) competitor in the year ahead.
Within VanEck, Matthew Sigel, heading digital assets research, and Patrick Bush, a senior investment analyst focused on digital assets, foresee Solana potentially overtaking Ethereum. Their rationale lies in Solana’s clearer and more secure path toward scalability, which could erode Ethereum’s market dominance.
Anticipations run high for Solana’s surge to secure a spot among the top three blockchains, considering metrics such as market cap, total value locked (TVL), and an expanding user base.
Total value locked (TVL), signifying the cumulative capital held within a blockchain’s smart contracts, remains a pivotal gauge. Presently ranked sixth in TVL among blockchains, Solana’s standing is reported by the decentralized finance aggregator DeFi Llama.
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Sigel and Bush further project Solana’s entry into the race for exchange-traded funds (ETFs) within the United States. While the focus has predominantly been on spot Bitcoin (BTC) and Ethereum ETF applications with the Securities and Exchange Commission (SEC), the duo anticipates Solana’s forthcoming participation in this realm.
At the time of writing, SOL is trading at $74.05, occupying the sixth position by market cap.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
